Andersons, Inc. — Director's Dealing 2011

Mar 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2011-03-01

Reporting Person: Burchinow Naran Uchur (VP General Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-01	COMMON STOCK	A	1160	$0.00	Acquired	5053	Direct
2011-03-01	PERFORMANCE SHARE UNIT (2014)	A	2320	$0.00	Acquired	2320	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PERFORMANCE SHARE UNIT	2320	Direct
PERFORMANCE SHARE UNIT	4000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$32.75	2015-04-01	COMMON STOCK (3300)	3300	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (3756)	3266	Direct
SOSAR	$39.115	2011-04-01	COMMON STOCK (6000)	6000	Direct
SOSAR	$42.08	2012-03-31	COMMON STOCK (2800)	2800	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (3750)	3750	Direct

Footnotes

F1: Stock performance unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.